Zurich, November 19, 2024
Calvin Risk, a spin-off from ETH Zurich specializing in AI risk management and governance, has raised $4 million in seed funding. The round was led by Join Capital and seed + speed Ventures, bringing the startup’s total funding to over $5 million since its founding in 2022.
Ensuring Safe AI Deployment
As enterprises rapidly adopt AI, operational risks such as bias, opaque decision-making, and unpredictable behavior pose significant challenges. Calvin Risk addresses these issues through its platform, offering:
• Automated Testing: Real-time assessments of AI models to ensure compliance and safety.
• Quantitative Risk Analysis: Measuring potential operational risks and their value impact.
• Regulatory Compliance Tools: Helping companies align with the EU AI Act and other regulatory standards.
“With AI systems becoming integral to operations, explicit AI risk management must now be a priority at the Board level,” said Julian Riebartsch, CEO and Founder of Calvin Risk. “Our platform empowers businesses with comprehensive insights into their AI systems, enabling the analysis of technical, ethical, and regulatory risks.”
Innovating AI Governance
Calvin Risk’s proactive approach includes pre-deployment assessments and continuous monitoring, moving beyond traditional post-incident analyses. This adaptive and modular framework simplifies AI governance for enterprises while providing executive-friendly insights for critical decision-making.
Academic Excellence Meets Industry Expertise
Founded at ETH Zurich, one of Europe’s top AI research institutions, Calvin Risk combines cutting-edge academic research with practical solutions. Notable milestones include:
• Global Partnerships: Collaborations with Aviva, Lloyds Banking Group, and Lufthansa Industry Solutions.
• Industry Recognition: Achieving the first GenAI model certification from TÜV Süd and being named Risk.net’s Model Risk Management Product of the Year.
Accelerating Growth and Compliance Leadership
With the new funding, Calvin Risk plans to:
1. Scale its AI risk management platform.
2. Enhance its tools for quantitative assessments and compliance.
3. Expand its presence across European markets.
As the AI landscape evolves, Calvin Risk remains committed to enabling enterprises to adopt AI responsibly and confidently while meeting stringent safety and compliance requirements.
For more information, visit www.calvinrisk.com.
